The 18-year-old daughter of Katie Holmes has come into a great deal of money, DailyMail.com has learned.
That is because her trust fund from her estranged father Tom Cruise ‘kicked in’ when she turned 18 on April 18.
‘It is part of the divorce deal that a trust fund provided by Tom Cruise be shared with daughter Suri Cruise when she turns 18, and it is substantial,’ a source told DailyMail.com.
‘She was allowed to access it when she turned 18 in April. The rest of the money will become available to her once she enters her 30s. The trust fund was carefully constructed so that she does not get all the money at once and becomes overwhelmed.’
DailyMail.com has also learned that Katie has set up her own trust fund for her only child. ‘Katie is fiscally minded and is looking out for her daughter, of course,’ another source added. ‘She wants her to be well provided for and have a great quality of life.’
Suri Cruise is suddenly a rich teenager. The 18-year-old daughter of Katie Holmes has come into a great deal of money, DailyMail.com has learned. That is because her trust fund from her estranged father Tom Cruise ‘kicked in’ when she turned 18 on April 18
Tom Cruise and his then girlfriend Katie Holmes arrive for the fan screening of War Of The Worlds in Los Angeles in 2005
Suri is a lucky girl as her father can easily afford to pay into her trust. He is reportedly worth over $600M, according to Celebrity Net Worth. Katie is reportedly worth $25M, according to the same site.
Indeed, divorce documents from 2012 show that the Top Gun star would provide Suri with a trust fund once she became an adult.
The actor also has another daughter, Isabella, along with son Connor, from his marriage to ex-wife Nicole Kidman.
When Tom and Katie split in 2012, it was stated that Cruise had set up a trust fund for Suri which she could access in part when she turned 18 and in full when she reached her thirties.
He also agreed to pay Holmes $400,000 per year in child support – about $33,000 per month – until Suri turned 18. It is believed those payments have now stopped.
And the Mission: Impossible star agreed to pay for all of Suri’s health care, dental, insurance, education, college and extracurricular costs.
As DailyMail.com reported earlier this year, Tom has paid for Suri’s $65,000 annual college expenses at Carnegie Mellon University.
A source previously told DailyMail.com: ‘Tom is indeed paying for Suri’s tuition – he has always paid for her schooling and would never stop as he is a stand-up guy.
Tom Cruise and Katie Holmes, wearing an off-the-shoulder Giorgio Armani gown with an ivory silk train, on their wedding day in Italy in 2006
‘It is part of the divorce deal that a trust fund provided by Tom Cruise be shared with daughter Suri Cruise, and it is substantial,’ a source told DailyMail.com. ‘She was allowed to access it when she turned 18 in April. The rest of the money will become available to her once she enters her 30s. The trust fund was carefully constructed so that she does not get all the money at once and becomes overwhelmed.’ Cruise is pictured with his daughter Suri in 2012
Suri is a student at Carnegie Mellon University in Pittsburgh, Pennsylvania. Her Christmas break begins on December 21
‘He has never hesitated paying his daughter’s child support and expenses. He does not go back on his word. He is fulfilling his obligation.’
Suri is a freshman at Carnegie Mellon and has likely been studying dance and theater as her movie star mother Katie has previously said those were her interests.
And Katie has already put Suri to work on two of her films, which gives her an advantage as she enters show business.
Suri contributed vocals to songs in two of Holmes’ films – the 2023 drama Rare Objects and 2022 romantic drama Alone Together.
‘I’m proud of my daughter,’ Holmes told Town & Country of her daughter. ‘Of course, I will miss the close proximity, but I’m really proud of her and I’m happy.’
Katie was seen getting Suri settled into her school in the early fall as she moved into a dorm room.
DailyMail.com has also learned that Katie has set up her own trust fund for her only child: ‘Katie is fiscally minded and is looking out for her daughter, of course,’ another source added. ‘She wants her to be well provided for and have a great quality of life.’ Seen in 2021
Holmes and Suri Cruise at the American Ballet Theater Spring Gala in New York City in 2018
Holmes is seen on December 1 in New York City
An insider recently told the Mail about Suri’s early days at college: ‘She is a smart girl, and she is turning into a very intelligent mature young woman,’ said a source.
‘She has a very close group of loyal friends, and she knows exactly where she comes from.’
Since then, Suri has been seen back in her hometown of New York City where she attended her mother’s play on Broadway titled Our Town with Jim Parsons and Zoey Deutch.
Suri – who has split from her boyfriend, according to a DailyMail.com exclusive, is expected to travel back home to New York City for her Christmas break which is from December 21 until January 13.
That gives Suri almost a month off from school.
